SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $102.00

SS&C Technologies (NASDAQ:SSNC) had its target price increased by DA Davidson from $92.00 to $102.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

SSNC has been the subject of a number of other research reports. Jefferies Financial Group raised SS&C Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $70.00 to $94.00 in a research report on Monday, February 3rd. StockNews.com cut SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. Needham & Company LLC boosted their price objective on SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Royal Bank of Canada boosted their price objective on SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Raymond James boosted their price objective on SS&C Technologies from $85.00 to $95.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, SS&C Technologies has an average rating of “Buy” and a consensus price target of $89.50.

SS&C Technologies Stock Performance

Shares of NASDAQ SSNC opened at $88.09 on Monday. The business’s 50-day moving average price is $78.32 and its two-hundred day moving average price is $75.41. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. SS&C Technologies has a one year low of $59.53 and a one year high of $88.22. The company has a market capitalization of $21.82 billion, a P/E ratio of 29.36 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. Analysts anticipate that SS&C Technologies will post 5.26 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.14%. SS&C Technologies’s dividend payout ratio (DPR) is presently 33.33%.

Insider Buying and Selling

In related news, SVP Jason Douglas White sold 69,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the sale, the senior vice president now directly owns 6,412 shares in the company, valued at $494,172.84. This represents a 91.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William C. Stone sold 247,300 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $76.61, for a total value of $18,945,653.00. Following the sale, the chief executive officer now owns 31,837,926 shares in the company, valued at approximately $2,439,103,510.86. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 449,000 shares of company stock worth $34,461,478 in the last three months. Insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On SS&C Technologies

Large investors have recently bought and sold shares of the business. Toronto Dominion Bank lifted its holdings in SS&C Technologies by 26.4% during the 3rd quarter. Toronto Dominion Bank now owns 32,136 shares of the technology company’s stock worth $2,385,000 after buying an additional 6,721 shares in the last quarter. State Street Corp lifted its holdings in SS&C Technologies by 2.2% during the 3rd quarter. State Street Corp now owns 5,624,174 shares of the technology company’s stock worth $417,370,000 after buying an additional 121,223 shares in the last quarter. ZWJ Investment Counsel Inc. lifted its holdings in SS&C Technologies by 3.5% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 330,352 shares of the technology company’s stock worth $25,034,000 after buying an additional 11,077 shares in the last quarter. Benson Investment Management Company Inc. acquired a new position in SS&C Technologies during the 4th quarter worth $5,578,000. Finally, Swedbank AB lifted its holdings in SS&C Technologies by 17.5% during the 4th quarter. Swedbank AB now owns 1,753,236 shares of the technology company’s stock worth $132,860,000 after buying an additional 261,275 shares in the last quarter. 96.95% of the stock is currently owned by institutional investors.

About SS&C Technologies

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.